the treasury. It was in some shape to be sent home to its owners. To
send it out in silver was subject to two manifest inconveniences. First,
the country would be exhausted of its circulating medium. A scarcity of
coin was already felt in Bengal. Cossim Ali Khân, (the Nabob whom the
Company's servants had lately set up, and newly expelled,) during the
short period of his power, had exhausted the country by every mode of
extortion; in his flight he carried off an immense treasure, which has
been variously computed, but by none at less than three millions
sterling. A country so exhausted of its coin, and harassed by three
revolutions rapidly succeeding each other, was rather an object that
stood in need of every kind of refreshment and recruit than one which
could subsist under new evacuations. The next, and equally obvious
inconvenience, was to the Company itself. To send silver into Europe
would be to send it from the best to the worst market. When arrived, the
most profitable use which could be made of it would be to send it back
to Bengal for the purchase of Indian merchandise. It was necessary,
therefore, to turn the Company's revenue into its commerce. The first
investment was about five hundred thousand pounds, and care was taken
afterwards to enlarge it. In the years 1767 and 1768 it arose to seven
hundred thousand.

[Sidenote: Consequences of them.]

This new system of trade, carried on through the medium of power and
public revenue, very soon produced its natural effects. The loudest
complaints arose among the natives, and among all the foreigners who
traded to Bengal. It must unquestionably have thrown the whole
mercantile system of the country into the greatest confusion. With
regard to the natives, no expedient was proposed for their relief. The
case was serious with respect to European powers. The Presidency plainly